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Economy

Economic Data (USA)

Tuesday, August 01, 2017

ISM Manufacturing Index for July 2017

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for July 2017:

Predicted: 56.2%
Actual: 56.3%

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

The previous month's PMI reading was 57.8%.

From Today's Report:

"... Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 98th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®..."

The following is a sampling of quotes from a diverse pool of U.S. manufacturers:



  •     "Orders are strong, and quote activity is just as strong. Gearing up for [a] strong third quarter."
     (Chemical Products)

  •     "In regard to sales, we have had our best year ever. Demand still exceeds supply in our category. Competitors are investing in capital expansion."
     (Food, Beverage and Tobacco Products)

  •     "We are having huge sales numbers, and backlog is growing."
     (Computer and Electronic Products)

  •     "Strong demand for our products has our manufacturing plants focusing on uptime and production."
     (Nonmetallic Mineral Products)

  •     "Export orders are continuing to strengthen. The understatement is how stable domestic business is as well."
     (Wood Products)

  •     "Business is very steady, but everyone is waiting till the last minute to place their orders."
     (Machinery)

  •     "Six profitable months in a row. First time since 2007."
     (Fabricated Metal Products)

  •     "Starting to see better order entry and planning on turnaround for 2018."
     (Electrical Equipment, Appliances and Components)

  •     "Business has picked up the last few months, but next month is a bit slower — could be cyclical."
     (Plastics and Rubber Products)

  •     "Labor shortages are pretty universal, leading to longer lead times through the supply chain. Pricing pressure as community clamors for premium capacity."
     (Transportation Equipment)


Click here to view the complete ISM report

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